More on the Chinese effort to build a new “Panama Canal” through Nicaragua

A few days back we chatted about the Chinese plan to dig a new canal through the Isthmus of Panama. Through Nicaragua. 173 miles. Mostly using the deep waters of Lake Nicaragua. So where’s the rest of the story.

A canal through Nicaragua would use the lake.

A 41-year old Chinese entrepreneur named Wang Jing has been to Nicaragua to meet with President Daniel Ortega to “ice the deal.” Wang made bo-ku money in the telecommunications game. His firm, Xinwei Telecom has operations in over a dozen countries.

Wang Jing is a Hong Kong resident. He flew in a private jet and his team sat down with Nicaraguan engineers to lay out their plan. It’s all very preliminary, but the cost is a major driver of what could be the world’s largest construction project EVER!

$50 billion has to come from somewhere. It cost the US bout $400 million in 1914. Jing has connections in the Communist party and he’ll need their money to break ground. Shovels are set to dig by the end of this year. Completion is in 5 years.